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Minnesota Statutes Business Development (Ch. 116R-116W) § 116T.04. Powers and duties of corporation

Current as of January 01, 2025 | Updated by Findlaw Staff

Subdivision 1. Powers and duties. (a) The corporation has the powers granted to a nonprofit corporation bysection 317A.161, except as otherwise provided in this chapter.

(b) Except as specified insection 116T.02, subdivision 10, the state is not liable for the obligations of the corporation.

(c) Section 317A.161applies to this chapter and the corporation in the same manner that it applies to business corporations established under chapter 317A.

Subd. 2. Rules. The corporation must publish in the State Register any guidelines, policies, or eligibility criteria prepared or adopted by the corporation for its programs.

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Cite this article: FindLaw.com - Minnesota Statutes Business Development (Ch. 116R-116W) § 116T.04. Powers and duties of corporation - last updated January 01, 2025 | https://codes.findlaw.com/mn/business-development-ch-116r-116w/mn-st-sect-116t-04/

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